IDnow Reports Record Verification Requests for Euro 2024
Identity verification solutions provider IDnow has revealed a spike in requests for identity verification from gambling customers in the lead-up to the peak summer betting season.
IDnow expects the trend to continue throughout each country's first match in the tournament.
LISTEN TO THIS ARTICLE:According to the company, the surge in verification requests aligns with the kickoff of Euro 2024 on June 14, which saw a staggering 750% increase in identity checks between June 14 and 16 compared to usual volumes.
The unprecedented increase exceeded the number of requests received during the 2022 World Cup. IDnow anticipates that the trend will persist throughout each country's first match in the tournament.
The challenges operators face during major sporting tournaments are not necessarily any different to their regular daily compliance hurdles, but the sheer volume of new players from all around the world, coupled with increased activity is likely to cause issues for unprepared operators.
High Betting Activity Concerns
With fans and other sports betting enthusiasts hoping to cash out on the action, high-profile sporting events like Euro 2024 draw in a lot of betting activity.
However, the increase in betting popularity also raises the stakes of gambling-related problems such as unlicensed gambling. For instance, approximately 250,000 bettors in the UK alone wagered at unlicensed black-market platforms during the last World Cup. This was a three-fold increase from the previous year's 80,000.
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Regulators Take Proactive Measures
European gaming regulators recognize this threat, and some have been implementing adequate measures to raise gambling awareness and strengthen regulations, considering that the region would expectedly see the biggest increase in online betting during the Euro 2024 competition.
For instance, France's national gambling regulator, the ANJ launched a new prevention campaign to reduce the risk of sports betting and gambling addiction during the tournament.
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